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Your Financial Life
By Transamerica / Dec 7, 2015

Discussing Life Insurance with Your Parents

Home for the Holidays Discuss Insurance With Your Parents EDIT

During the holidays, friends and family get together to enjoy each other’s company and reconnect. It’s a time when stronger bonds are made, and people get to know each other just a little bit better.

When it comes to talking with your parents, as you get older, the conversation will change from topics like college to more serious matters like your career. While you’re discussing these things, you may want to also bring up the issue of life insurance. It’s not an easy topic to broach for some people, but it also shouldn’t be a taboo one. At its core, life insurance is about protecting your loved ones, which is in keeping with the holiday spirit.

Do some research ahead of time.

Knowing exactly what it is that you want to talk to your parents about ahead of time will help you once you get the conversation started. If you start chatting, but are personally confused about life insurance, then once you begin talking, the discussion can die quickly without answers. Know about the various types of life insurance, what riders can potentially be offered, and how to get in touch with an insurance professional to answer your questions, before you begin. This way, you can help your parents start thinking about life insurance on a basic level.

Find the right time to approach the topic.

Finding the right time doesn’t have to be a stressful thing. If you’re prepared with the information, then it’s just a matter of finding a quiet time when it’s just you and your parents. Maybe you are all hanging out around the fire, or making a meal together. These are moments that are usually filled with conversation, so why not make it a constructive one?

If your visit is drawing near a close, and you still haven’t been able to bring the topic up, then mention to your parents you want to have some time set aside to talk with them before you leave. Let them know you’re thinking about the future and want to know if they have any plans in place.

Keep it light.

Once you start talking, keep it light! Life insurance doesn’t have to be an uncomfortable topic. Think of this as a learning opportunity. Maybe your parents can teach you something about life insurance that you didn’t know before. Or maybe it’s something they haven’t thought about, and you’re bringing it to light for the first time. If they choose to get life insurance, you can even help with the search, and it can become a bonding experience for everyone who is involved.

Making sure your parents are prepared for the future is an important thing to do, and while the festivities have mostly everyone in a good mood, you should seize the opportunity. However, at the end of the day, remember that this is a personal matter, and if your parents don’t want to discuss life insurance then you should respect their privacy.

If you need some help getting started, we have lots of resources at your disposal.